Supermarkets To Hold Over 60% Share In Sales Of Bottled Water: Fact.MR

As per an ESOMAR-certified market research and consulting firm’s revised study, the global bottled water market is expected to surpass US$ 180 Bn valuation in 2021, and is poised to surge ahead at a CAGR of more than 9% over the forecasted period of 2021-2031.

The global bottled water market is envisaged to see high growth opportunities birthing from growing health-consciousness among people and increasing awareness about hygiene. Surge in demand for functional bottled water could provide impetus to the global market.

With a view to provide safe drinking water to residents of their countries, governments are expected to concentrate on developing public water infrastructure. Launch of new products with innovative flavours and more health benefits could set the tone for significant market growth over the coming years.

However, presence of BPA and other harmful chemicals in plastic bottles causing behavioral and neurological problems in children is predicted to hamper progress to some extent. Stringent approval standards could be another factor delaying the growth of the global market. Lower cost of tap water and advent of home water treatment are also expected to challenge market expansion.

Key Takeaways from Market Study

• The global bottled water market is anticipated to add 3X to its market value by 2031.
• The glassed bottled water segment is expected to progress at an impressive CAGR of 7.5% over the forecast period.
• Similarly, the PET bottled water segment is expected to expand at an impressive CAGR of more than 10% over the assessment period of 2021-2031.
• North America is the consummate market and is expected to account for over 40% of market share by value, and is subjected to inflate at a zestful CAGR of more than 6% over the next ten years.
• By sales channel, supermarkets are expected to be largest contributor to sales and are expected to hold over 60% of overall market share.

“Rising consumer preference for hygiene and health along with increasing government expenditure on clean water infrastructure is propelling market growth across regions,” says a Senior Research Analyst.

COVID-19 Skyrocketing Sales of Bottled Water
COVID-19 has significantly driven demand for bottled water, as customers have started giving more emphasis to the health benefits of this form of water. Highest hike in demand was observed in the 2nd quarter of 2020, due to rise in consumption of mineral water and purified water in households.

With surge in demand from e-Commerce websites, healthcare industry, and households in 2020, manufacturers soon paced up their production to meet this rising demand. Due to stringent lockdowns, sales through supermarkets and other offline sources saw a plunge, but soon, retailers took their products online and increased their sales volumes.

These insights are based on a report on Bottled Water Market by Fact.MR.